President Obama News Thread

[MrG]

I like this one speaker on the vid: we have...white, black...people in need of assistance." How many white faces you see in this crowd?

You have to consider the source, too. Who shot the footage? More important, who cut it together?

Speaking strictly for myself, I look at these people and think; Wall Street Welfare Queens. They not only filled out the forms, they wrote them.

[Jet Gorgon]

^ Detroit news station. Mebbe it was FOX?

^^Sure, Sabang, but totally disagree with you on prices. Pharmas spend up to billions on research, Fed testing, marketing, etc to bring new drugs to market. That's why they get a patent, so they can recoup that $$. Generics don't have to spend diddley except copy the drug, make it and sell it. And, if a drug has side effects and people sue, who gets dinged for that? The pharmas not the generics.
Once a drug goes off-patent, the price drops on all fronts.
Please give me one name of one generics firm that develops and tests an original drug.
Without pharmas, we would not have new drugs coming out at the rate they do (even tho the govt loves to stall them). And don't forget, they are not welfare cases -- they have to pay all of their workforce.

[Jet Gorgon]

^ So, Bill Ayers and Rev Wright ain't gonna be listed then.

[Humbert]

I agree that pharmas doing the heavy lifting with R&D expenditures should reap the benefits of their investments. What I don't understand is why pharmaceutical companies feel the need to spend billions on advertising and payola for physicians.

[AntRobertson]

... If you were an American like me, your mail box would be over flowing with anti Bo facts and figures... He's a smooth talking half breed who is creating a major uprising in the U.S. And, he quickly becoming a target for a bullet to the head...

So by "American like me" you mean the right-wing demographic for the paranoid propaganda from the likes of Faux News and blog, and with an underlying racist bent and inciting violence?

[AntRobertson]

^ So, Bill Ayers and Rev Wright ain't gonna be listed then.

That particular drum is so old and tired from being beaten that it barely makes a sound anymore.

[Humbert]

... If you were an American like me, your mail box would be over flowing with anti Bo facts and figures... He's a smooth talking half breed who is creating a major uprising in the U.S. And, he quickly becoming a target for a bullet to the head...

So by "American like me" you mean the right-wing demographic for the paranoid propaganda from the likes of Faux News and blog, and with an underlying racist bent and inciting violence?

Sounds like he meant "white like me".

[Jet Gorgon]

I agree that pharmas doing the heavy lifting with R&D expenditures should reap the benefits of their investments. What I don't understand is why pharmaceutical companies feel the need to spend billions on advertising and payola for physicians.

Ya, they have to introduce the product and explain the use and benefits to docs and patients. It sucks, but that's biz. I notice now that drug ads in news/mags must have at least one page of details on the drug, constraints and usage.

[Jet Gorgon]

^ hehe The truth is difficult for the Dems.

[Humbert]

^I know a doc here in Thailand who goes on junkets to the US several times a year sponsored by drug companies. You can bet it's not just listening to lectures and eating rubber chicken.

[DrivingForce]

Let me assure you, I do not defend, much less like our insurance control over the medical field, but it applies only to drugs and not proceedures.

Sorry, while I agree with much of what you said I have to call you on this one.. Procedure denials is the number 1 issue that confronts people with private insurance companies..

[Muadib]

FT.com / US / Economy & Fed - Obama under fire over falling dollar

Obama under fire over falling dollar

By Edward Luce and Krishna Guha in Washington
Published: October 7 2009 19:37 | Last updated: October 8 2009 00:30

The falling US dollar is giving ammunition to the critics of the Obama administration and fuelling broader concerns about the potential erosion of America’s reserve currency status.

Republican politicians have highlighted the dollar’s slide as evidence of waning US power.

Sarah Palin, the former vice-presidential Republican candidate, on Wednesday sought to link the dollar decline to rising US indebtedness and dependence on foreign oil. “We can see the effect of this in the price of gold, which hit a record high today in response to fears about the weakened dollar,” she wrote on her Facebook page.

With other nations also expressing concern about dollar weakness, the administration is at pains to emphasise that it understands the responsibilities that come with issuing the world’s reserve currency and will live up to them.

“It is very important to the United States that we continue to have a strong dollar,” Tim Geithner, Treasury secretary, said at the weekend. “We recognise that the dollar’s important role in the system conveys special burdens and responsibilities on us and we are going to do everything necessary to make sure we sustain confidence.”

Angst about the dollar – which has fallen 11.5 per cent on a trade-weighted basis over the past six months – extends beyond ideological conservative political circles.

Last week, Robert Zoellick, president of the World Bank, warned that “the United States would be mistaken to take for granted the dollar’s place as the world’s predominant reserve currency.”

Much of today’s debate echoes the traditional political response in the US whenever the currency depreciates. But it is now accompanied by warnings from America’s creditors, many of which are widely rumoured to be eyeing large purchases of US real assets such as property and companies.

“The dollar has always been a testosterone issue among America’s political classes,” said Norm Ornstein, a veteran analyst at the conservative American Enterprise Institute.

“This time there may be a legitimate debate to be had over the dollar’s reserve status, but Sarah Palin is not qualified to participate in it.”

While the latest swoon in the dollar is attracting attention, analysts say that it needs to be put in context. In trade-weighted terms, the dollar is essentially back to where it was at the start of the financial crisis on August 9, 2007, according to Federal Reserve data.

While the price of gold has gone up, financial market measures of inflation expectations have not. The yield on the 10-year note was trading at 3.18 per cent on Wednesday. Indeed, analysts say that the dollar’s slide stems more from investors’ growing appetite for risk and the prospects of interest rate rises elsewhere.

“The first order reason for the decline in the dollar has been the normalisation of markets,” said Ken Rogoff, a Harvard professor and former IMF chief economist. “The financial crisis probably has brought forward the day when the dollar is no longer dominant – but maybe from 75 years to 40 years.”

[Jet Gorgon]

^ Interesting; different views from Jim Rogers in Milkie's vid in the econ thread.

[Norton]

Interesting; different views from Jim Rogers in Milkie's vid in the econ thread.

Many expert views and opinions on the subject. Much hand wringing and hair on fire worry about the collapse of the USD since the global economic recession.

Wonder what currency the bulk of global investors will opt for when the US economy recovers?

[sabang]

The fact is the USD has now dropped back to it's level at the beginning of the financial crisis- hardly a collapse . During the darkest days of the crisis, money flocked into the USD in a 'Flight to [cough] Quality' and propelled it higher. Flattering perhaps, but the last thing the US economy really needed. The recent and entirely justified weakness of the USD is good for the obvious reasons- import substitution, export growth, and encouraging foreign investment.

As the century progresses, the US share of world GDP and Trade will inevitably diminish. It is the US itself that should be looking to change the status of the greenback as the worlds reserve currency under this circumstance- you want to be able to manage your currency via domestic policy, not externalities that you have reducing influence over! There is no replacement for the USD as a single reserve currency though- the obvious replacement would be a trade Weighted Index of internationally traded currencies.

[Panda]

The thing is that the $US got into this extraordinary position of unsupported strength through the hegemony created when it completely departed from the gold standard back in '71. Now the whole world is so dependent on the $US as not only a trading medium, but as foreign exchange reserves, that the $US is a whole lot bigger than what the US government can easily control.

US interest rates close to zero, huge unemployment, falling productivity, massive debt and $trillions more being printed, a country in financial crisis, and the $US is still very strong. In fact its only slipped significantly over the past week or so on the (now denied) news that the Arabs were planning to move away from pricing their oil in $USs. It is the $US hegemony that is driving the price of the $US more than anything the US government can do. When the effects of all the stimulus packages around the world start to become expended and the world economy starts to look more gloomy again there is bound to be a flight back into $USs AGAIN.

Right now the BBC is reporting that Asian central banks (including Thailand) are buying up $USs to bolster its value so that they can improve their position re payments for exports which are written in $USs. Short term effects for sure, but effects that are out of the hands of the US government all the same.

The $US hegemony, unrelated to any measure of productivity, that Nixon created has allowed USA to print money to buy and borrow wealth created elsewhere.
Its been a dream run for the USA owning the worlds mint over the past 3 and a half decades. However, the US government has virtually lost control over their own currency as a result. Although the $US has been gradually slipping against the other major currencies for many years it still remains vastly overvalued because of its position of the WORLDS default trading currency.

Not even Obama printing a $Trillion extra paper money made much of a difference.
But when rumors spread that Arab oil may move from the $US hegemony it created a rush away from the $US and into gold and other currencies.

I believe that the US government is flooding the world with $USs and $US debt, not so much to prop up their failing economy, but in fact in an attempt to drive the tradable value of the $US down to a more reasonable level where the USA can again become export competitive. It doesn't seem to be working too well so far though as the rest of the world has become hooked on the $US hegemony and stands to lose too much if it crashes.

The creation of a new world trading currency based on productivity rather than US debt is quite obviously what is needed to break out of this current financial crisis for not only the USA, but the whole world.
However, in the interim, such a change would cause panic and chaos which nobody is yet ready to face. Its got to happen sooner or later though.

[DrivingForce]

Obama Nobel Peach Prize??? FFS where has he made peace with anyone?? Middle East, Iran, North Korea, Palestine, Israel, Myanmar, where? They've lost all credibility, It's now become the "Most Popular Person Award" first Al Gore and Now a sitting president who is Commander and Chief during a war who's been in office only 9 months?? What's next from the Euros a blow job in Bamburgers window?? We should ship him over there to be EU president instead ..

[Dan]

As I said on the other thread, as Kissinger - a man who is unarguably a war criminal - was awarded it, it's been a joke for decades. Still, it could have been worse; apparently Sarkozy was one of the nominees.

[Jet Gorgon]

I thought you boys were joking...WTF? Is there no sense left in the leftist world?

STOCKHOLM, SWEDEN; and BOSTON — The surprise decision to award President Barack Obama the 2009 Nobel Peace Prize had much of the world scratching its head on Friday, even among the president’s most ardent fans. Less than a year into office, the young president has made lofty promises, committed his administration to diplomacy, and convinced the world that a less belligerent America is in the offing.
...
...Obama’s plan to scrap the missile shield was a “symbolic step” that “calmed down the Russians” and earned him praise in many European capitals, but also says the award was given, more than anything, to push Obama toward what the committee hopes he can achieve. “There is a feeling here that this is a risk. What does it say about the award if progress isn’t made? I think Obama is a deeply moral man, and this seems designed to remind him of his promises.”

The international politics behind Obama’s Nobel Peace prize | csmonitor.com

Bladdy h*ll, the world's gone mad.

[xlineshooter]

... If you were an American like me, your mail box would be over flowing with anti Bo facts and figures... He's a smooth talking half breed who is creating a major uprising in the U.S. And, he quickly becoming a target for a bullet to the head...

So by "American like me" you mean the right-wing demographic for the paranoid propaganda from the likes of Faux News and blog, and with an underlying racist bent and inciting violence?

No, I did say that, you did. I am one of the majority that is tired of big government administered by self serving politicians. Now we have been pushed to the limit, and the most prevailing plan at hand, and in almost every email we citizens get, urge us to vote out the bad ones in 1010. Republican or democrat, the idea is to hold your own representatives accountable for what the congress does. And if their actions do not serve the masses, then they serve themselves.

The congress just voted themselves a raise, while they consider taking away money for the retired. All those reps. get full pay and free medical by the plan they voted for themselves. That is self serving, and contrary to our to our constitution.

Don't make such stupid dumb ass remarks. You don't read my mail...idiot..!!

[sabang]

The Nobel Peace Prize for 2009

The Norwegian Nobel Committee has decided that the Nobel Peace Prize for 2009 is to be awarded to President Barack Obama for his extraordinary efforts to strengthen international diplomacy and cooperation between peoples. The Committee has attached special importance to Obama's vision of and work for a world without nuclear weapons.

Obama has as President created a new climate in international politics. Multilateral diplomacy has regained a central position, with emphasis on the role that the United Nations and other international institutions can play. Dialogue and negotiations are preferred as instruments for resolving even the most difficult international conflicts. The vision of a world free from nuclear arms has powerfully stimulated disarmament and arms control negotiations. Thanks to Obama's initiative, the USA is now playing a more constructive role in meeting the great climatic challenges the world is confronting. Democracy and human rights are to be strengthened.

Only very rarely has a person to the same extent as Obama captured the world's attention and given its people hope for a better future. His diplomacy is founded in the concept that those who are to lead the world must do so on the basis of values and attitudes that are shared by the majority of the world's population.

For 108 years, the Norwegian Nobel Committee has sought to stimulate precisely that international policy and those attitudes for which Obama is now the world's leading spokesman. The Committee endorses Obama's appeal that "Now is the time for all of us to take our share of responsibility for a global response to global challenges."

Oslo, October 9, 2009

[venturalaw]

For all of you libbists out there who do not agree with the commission's decsion to award Obama the Nobel Peace Prize, according to your party's Communications Director, you are now a terrorist.

DNC: Steele and GOP Have Thrown In Their Lot With The Terrorists By Criticizing Obama's Nobel

Dems intend to go on the offensive today by holding up Republican criticism of Obama’s Nobel as the latest example of Republicans desperately hoping for America’s failure, placing it alongside GOP cheer at America’s loss of the Olympics as evidence of an unmistakable pattern. The DNC’s Brad Woodhouse sends over a typically hard-hitting reaction, linking Republicans with terrorists:

The Republican Party has thrown in its lot with the terrorists — the Taliban and Hamas this morning — in criticizing the President for receiving the Nobel Peace prize. Republicans cheered when America failed to land the Olympics and now they are criticizing the President of the United States for receiving the Nobel Peace prize — an award he did not seek but that is nonetheless an honor in which every American can take great pride — unless of course you are the Republican Party. The 2009 version of the Republican Party has no boundaries, has no shame and has proved that they will put politics above patriotism at every turn. It’s no wonder only 20 percent of Americans admit to being Republicans anymore – it’s an embarrassing label to claim.

It’s worth noting that Republicans who fail to find anything good or celebratory to say about the Nobel risk doing at least as much damage to themselves as to Obama, by feeding the GOP-wants-America-to-fail meme.
********************************************
Update: RNC spokesperson Gail Gitcho responds to Woodhouse:

“Like most Americans, the DNC can’t think of one achievement that the president has accomplished, so they resort to their predictable response and standard playbook of demonizing those who disagree with them. First they call Americans concerned over health care ‘rabid extremists’ and ‘angry mobs.’ Now, when challenged to answer the question of what the president has accomplished, Democrats are lashing out calling Republicans terrorists. That type of political rhetoric is shameful.”


DNC: Steele And GOP Have Thrown In Their Lot With The Terrorists By Criticizing Obama’s Nobel | The Plum Line

[Panda]

^ Just another example of how "negative politics" has taken over from sensible and genuine debate. The "power for the party at all costs" mentality does nothing to benefit the public. The political spin doctors and psychologists are running the show and the really important issues like health care get lost among the political rhetoric and BS.

[Humbert]

^ Just another example of how "negative politics" has taken over from sensible and genuine debate. The "power for the party at all costs" mentality does nothing to benefit the public. The political spin doctors and psychologists are running the show and the really important issues like health care get lost among the political rhetoric and BS.

We have Karl Rove for this style of political debate. Inflate the negatives of your opponents instead of genuine discussion about the issues.

[robuzo]

"I think that everybody is laughing. Our president is a world-wide joke," the radio host said. "Folks, do you realize something has happened here that we all agree with the Taliban and Iran about and that is he doesn't deserve the award. Now that's hilarious, that I'm on the same side of something with the Taliban, and that we all are on the same side as the Taliban." Limbaugh is the de facto leader of the Republican Party (Rush Limbaugh has his grip on the GOP microphone - Los Angeles Times), of course.

The main issue I see with the Nobel is that appears mainly to be a rebuke of Bush- the actual "world-wide joke"- and Bush-era US, as well as a way of shoring up Obama's reputation and popularity in Europe. Still, it might also be an important sign that Europe still hasn't turned away from the US, and remains willing to give the US a chance to rejoin the community of advanced nations rather turn into a rogue quasi-banana republic as it did under Bush. It is obviously more in the way of encouragement of Obama and the US to push forward with some of his initiatives than it is a recognition of final achievement of goals such as eliminating nukes, etc., but that in itself is not unprecedented in Nobel Peace Prize history.

On a personal note, the way that giving Obama this award pisses the "conservatives" off so badly that they persist in making asses of themselves, and admitting that their goal is to destroy Obama whatever the cost to the nation, makes it OK with me. They have already inflicted far more damage on the US economy, military power, and international reputation than Al Qaeda ever could have, except in the sense that Al Qaeda was clearly hoping for the US to react more or less exactly as the Bush/Cheney gang did. The Republicans are down, and I think it is time to kick their teeth in, not offer a hand. Maybe this will encourage Obama to stop playing nice with the right-wing swine.